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High street retailers head for bankruptcy, according to report Monday, 25th June 2012
More high street stores are primed for bankruptcy as punishing quarterly rent bills and VAT force more retailers against the wall, according to a report by R3.
Typically, rent quarter day is the time when ailing retailers finally sink into administration as retailers scramble to pay landlords the months’ rent on their stores – a bill which became due on Sunday.
According to the Guardian, 26 per cent of retailers are currently classified as “caution” or “high risk” in terms of the likelihood of the company failing in the next year.